On July 1, 2013, New York State Governor Cuomo's Executive Order #38, designed to "prevent public funds from being diverted to excessive compensation and unnecessary administrative costs, and ... ensure that taxpayer dollars are being used to help New Yorkers in need," was implemented. EO #38 now puts limits on reimbursements for administrative costs and executive compensation that come from state-provided funds. [More]

On March 3, the referendum for say-on-pay votes in Switzerland passed. Unlike the US non-binding, say-on-pay vote enacted in 2011, the shareholders in Switzerland will now have a binding vote, which essentially allows them to accept or reject the compensation recommendation of its current executive management team as well as prohibit sign-on bonuses and non-statutory severance for new hires and exiting executives respectively. [More]

According to the recent drop in stock price and slowed growth, Apple stakeholders looked to improve pay-for-performance alignment by establishing stock ownership guidelines for the CEO and non-employee directors.